psychological segments

Examples of psychological segments in the following topics:

• Determining Segmentation Variable(s)

  • Markets can be segmented primarily according to geographic, demographic, usage, and psychological segments--or a combination of the above.
  • Segmentation should recognize psychological as well as demographic influences.
  • For example, Phillip Morris has segmented the market for cigarette brands by appealing psychologically to consumers in the following way:
  • If people with similar attitudes can be isolated, they represent an important psychological segment.
  • People with similar physical and psychological characteristics may be similarly motivated.

• Marketing Data Types

  • As you might expect, demographic segmentation variables are amongst the most popular bases for segmenting customer groups.
  • Psychographics is the science of using psychology and demographics to better understand consumers.
  • Although industrial market segmentation is quite different from consumer market segmentation, both have similar objectives.
  • The process of segmentation is distinct from positioning (designing an appropriate marketing mix for each segment).
  • Segmentation according to occasions.

• Stimulating Demand

  • The field of psychology defines motive as the inner drive or pressure to take action to satisfy a need.
  • The sources of this arousal may be internal (such as hunger); environmental (viewing a McDonald's advertisement); or psychological (thoughts about food, which can cause hunger).
  • For the most part, the research in motivation involves benefit segmentation and patronage motives.
  • Benefit segmentation may include consumer labels such as price-conscious, convenience-oriented, service-oriented, or other motivation features.
  • Discuss the psychological factors that drive consumer demand, and how they play into marketing segmentation

• Circadian Rhythms

  • Segmented sleep, also known as interrupted or divided sleep, is a multiphasic sleep pattern in which two or more periods of sleep are punctuated by periods of wakefulness.
  • Roger Ekirch, a historian who has researched segmented sleep extensively, argues that segmented sleep was the dominant form of human sleep before the Industrial Revolution.
  • Ekirch suggests that it is due to the modern use of electric lighting (computers, cell phones, office lights) that most modern humans do not practice segmented sleep.
  • In one experiment on segmented sleep, researchers had eight healthy men confined to a room for fourteen hours of darkness every day for a month.
  • Together, these results imply that segmented sleep is indeed our natural sleep rhythm.

• Selecting Target Markets

  • Mass marketing - Mass marketing is a market coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
  • Differentiated marketing - A differentiated marketing strategy is one where the company decides to provide separate offerings to each different market segment that it targets.
  • Each segment is targeted uniquely as the company provides unique benefits to different segments.
  • Concentrated marketing - Concentrated marketing is a strategy which targets very defined and specific segments of the consumer population.
  • Niche marketing is the process of finding market segments that are small but potentially profitable nonetheless.

• The Importance of Market Segmentation

  • Market segmentation allows for a better allocation of a firm's finite resources.
  • Market segmentation can be defined in terms of the STP acronym, meaning Segment, Target and Position.
  • While there may be theoretically 'ideal' market segments, in reality, every organization engaged in a market will develop different ways of imagining market segments, and create product differentiation strategies to exploit these segments.
  • To increase marketing efficiency by directing effort specifically toward the designated segment in a manner consistent with that segment's characteristics
  • Rather, one or more target markets (segments) must be selected.

• New Concept

• Developing a Market Segmentation

  • This allows them to focus all of their efforts on a single segment.
  • There are two major segmentation strategies followed by marketing organizations: a concentration strategy and a multi-segment strategy.
  • This strategy is advantageous because it enables the organization to analyze the needs and wants of only one segment and then focus all its efforts on that segment.
  • In the multi-segment strategy, a company focuses its marketing efforts on two or more distinct market segments.
  • Markets could also be segmented by usage rates.

• Evaluating Market Segments

  • Segmentation involves classifying people into homogeneous groupings and determining which of these segments are viable target markets.
  • Rather, one or more target markets (segments) must be selected.
  • Thus, market segmentation is a twofold process that includes:
  • An ideal market segment meets all of the following criteria:
  • The other segmentation strategy is a multisegment strategy.

• Careers in Psychology

  • Psychology is a very broad field, and there are many career options available for graduating students of psychology.
  • Clinical psychology involves the study and application of psychology for the purpose of understanding, preventing, and treating psychologically based dysfunction.
  • Forensic psychology is concerned with the application of psychological methods and principles to legal questions and issues.
  • Careers in health settings can vary widely and include health psychology (sometimes called health-and-wellness psychology), occupational-health psychology, and medical psychology.
  • Neuroimaging has been helpful in many areas of psychology, particularly in the subfield of biological psychology.